Adage Capital Partners GP L.L.C. Sells 165,000 Shares of Air Lease Co. (NYSE:AL)

Adage Capital Partners GP L.L.C. cut its holdings in Air Lease Co. (NYSE:AL - Free Report) by 81.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,349 shares of the transportation company's stock after selling 165,000 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Air Lease were worth $1,801,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock worth $3,897,000 after purchasing an additional 43,981 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Air Lease in the 3rd quarter worth approximately $31,000. Principal Financial Group Inc. raised its holdings in shares of Air Lease by 9.2% during the 3rd quarter. Principal Financial Group Inc. now owns 830,047 shares of the transportation company's stock worth $37,591,000 after acquiring an additional 69,887 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Air Lease by 23.6% during the 4th quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company's stock valued at $111,000 after acquiring an additional 441 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Air Lease by 1.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 162,685 shares of the transportation company's stock valued at $7,843,000 after purchasing an additional 1,558 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Trading Up 2.7 %

Shares of NYSE AL traded up $1.25 during midday trading on Friday, hitting $48.20. The company's stock had a trading volume of 934,356 shares, compared to its average volume of 762,762. The business's 50 day moving average is $45.38 and its two-hundred day moving average is $46.86. Air Lease Co. has a 12-month low of $38.25 and a 12-month high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm has a market cap of $5.39 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. As a group, equities research analysts expect that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, March 18th. Air Lease's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group set a $50.00 price objective on shares of Air Lease in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Air Lease currently has an average rating of "Moderate Buy" and an average target price of $55.67.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.